M&A Deal Summary

Terra Firma Capital Partners and Stockwell Capital Acquire ODEON Cinemas

On September 3, 2004, private equity firms Terra Firma Capital Partners and Stockwell Capital acquired consumer services company ODEON Cinemas from Portigon Financial Services for 1.0B EUR

Acquisition Highlights
  • This is Terra Firma Capital Partners’ 2nd and Stockwell Capital’s 1st transaction in the Consumer Services sector.
  • This is Terra Firma Capital Partners’ 11th and Stockwell Capital’s 19th largest (disclosed) transaction.
  • This is Terra Firma Capital Partners’ 15th and Stockwell Capital’s 2nd transaction in the United Kingdom.
Investment Fate
  • ODEON Cinemas was sold to a publicly-traded strategic buyer in 2016 for 921M GBP.

M&A Deal Summary
Date 2004-09-03
Target ODEON Cinemas
Sector Consumer Services
Buyer(s) Terra Firma Capital Partners
Stockwell Capital
Sellers(s) Portigon Financial Services
Deal Type Secondary Buyout
Deal Value 1.0B EUR

Target

ODEON Cinemas

London, United Kingdom
ODEON Cinemas Ltd. is a cinema operator with 242 cinemas and 2,236 screens. Odeon & UCI operates in four major markets: UK, Spain, Italy and Germany; and three smaller markets: Austria, Portugal and Ireland.

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Buyer(S) 2

Buyer

Terra Firma Capital Partners

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 18.0B GBP
Size Mega
Type Sector Agnostic
DESCRIPTION

Terra Firma Capital Partners is a private equity firm that primarily targets distressed 'asset rich' companies in need of management change or operational improvement. Terra Firma also invests in market leading businesses, or platform businesses capable of becoming market-leading businesses through add-on investments. Terra Firma generally looks to invest in businesses headquartered in Western Europe. Terra Firma was originally formed in 1994 and became an independent investment group in 2002. The Firm is based in London.

DEAL STATS #
Overall 17 of 39
Sector (Consumer Services) 2 of 2
Type (Secondary Buyout) 1 of 3
Country (United Kingdom) 15 of 26
Year (2004) 2 of 3
Size (of disclosed) 11 of 25
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-05-25 Shanks Group

Milton Keynes, United Kingdom

Shanks Group plc provides waste management solutions to the public and private sectors in the Netherlands, Belgium, the United Kingdom, and Canada.

Buy €357M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-17 Autobahn Tank & Rast

Bonn, Germany

Autobahn Tank & Rast is a provider of gastronomy, retail, hotels, fuel and fast charging infrastructure on the Autobahns in Germany. With its franchise partners, it operates around 360 petrol stations and around 400 service areas (including around 50 hotels) on the German motorway network. Autobahn Tank & Rast was founded in 1998 is based in Bonn, Germany.

Buy €1.1B
Buyer

Stockwell Capital

Austin, Texas, United States

Investor Investor

Category Private Equity Firm
Founded 2002
PE ASSETS 750M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Stockwell Capital is a co-investment firm, focused on making minority investments alongside private equity sponsors. Stockwell is a generalist investor, with no sector preferences and looks to commit $3 to $10 million per investment. The Firm will consider opportunities throughout the US and Europe and prefers late-stage or growth equity situations. Stockwell Capital was formed in 2002 and is based in Chicago.

DEAL STATS #
Overall 9 of 44
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 3 of 10
Country (United Kingdom) 2 of 4
Year (2004) 5 of 7
Size (of disclosed) 19 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-01 First Mercury Financial

Southfield, Michigan, United States

First Mercury Financial Corporation underwrites liability insurance through its wholly owned managing general agent, CoverX Corporation. First Mercury primarily insures companies in the security guard, alarm, and fire safety industries; the company also has a growing business in the specialty general liability sector.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-11-01 Tumi

South Plainfield, New Jersey, United States

Tumi is a manufacturer and supplier of travel suitcases and bags.

Buy $276M

Seller(S) 1

SELLER

Portigon Financial Services

Dusseldorf, Germany
Category Company
Founded 1969
Sector Financial Services
DESCRIPTION

Portigon Financial Services is an independent financial services provider and holding company. Portigon is the successor to German commercial lender WestLB AG. The Company was originally established in 1969 and is based in Dusseldorf, Germany.

DEAL STATS #
Overall 1 of 3
Sector (Consumer Services) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (United Kingdom) 1 of 1
Year (2004) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-01 Pubmaster Group

Hartlepool, United Kingdom

Pubmaster Group Ltd. is a independent pub retailer.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-18 Klockner

Duisburg, Germany

Klockner & Co. is a large multi-metal distribution company. Klockner services over 200,000 customers and distributes a wide variety of steel, aluminum and non-weighted products, including flat, long, stainless steel and aluminum products; roof and wall, plastic and building materials; and other non-weighted products. The Company operates approximately 250 warehouse facilities in ten European countries, the U.S. and Canada. Klockner & Co. is based in Duisburg, Germany.

Sell -
Mergr

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